Hyperliquid’s SpaceX futures (SPCX) just suffered a flash crash, dropping from $2,280 directly to $1,280 within a few minutes—cutting it in half. It is currently thought that the cause may be an issue with the index price of Ventuals Market’s HIP-3, which triggered a chain of liquidations. Coincidentally, Bloomberg also reported that SpaceX lowered its IPO valuation target from $2 trillion to $1.8.

SPCX-1.72%
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